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Al Jazeera America
Dec 9, 2013 7:00pm EST
that are federally insured from risky behavior. we don't want to endanger those deposited. >> named after paul vol kerr, the former federal reserve chairman, the rule banned banks that take federally insured deposits from engaging in so called proprior tear trading. >> widely seen as the center piece of the wall street reform and consumer protection act, it has become contentious, because unlike glassed eagle it does not ban all trading. >> banks can still trade securities or execute trades for their customers. and for years now, regulators have been rangeling with how to distinguish those ben nine trades from ones that can harm a bank. >> those who favor a tough interpretation, point to the $6 billion trading loss jpmorgan chase incurred in the london whales scandal. whether the rule changes the excesses only time will tell. patricia, al jazeera, new york. >> a man we are about to talk to says the financial crisis of 2008 had nothing to do with proprior tear trading by banks and he says the rule and the to be frank act will not do enough to address the real issues. compensation risk taking on wal
Search Results 0 to 0 of about 1